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Hi
In part (C) why are we not taking into account the 90000 we pay the bank when calculating the savings. Isn’t that an expense that is reducing our savings?What $90,000?
The saving is the difference between the interest that would have been paid, and the interest that ends up being paid.
though i believe that the 90000 fee that we pay the bank should be deducted from the yearly saving that we make. But the examiner has not considered that.
The questions asks about the savings.
The examiners answer does refer to the annual fee immediately before the PV calculation.
I still do not know where you are getting 90,000 from. The fee is 120,000 per year.
ok. this is the kaplan kit, i guess they have once again changed the figures.
thanks for your answer!
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